A honest conversation with the real estate "Boogey (Wo)man," aka the Appraiser

This buyer swears their offer was market value, but was shocked to see the appraisal come back $100,000 below their offer.    While the buyer and the agent point their fingers at the appraisal, it made us realize that we don't ever really get to hear the appraisers side of the story.    We don't see them, we don't talk to them, but are they really the bad guys in the buying process?

To dissect the world of appraisals, we asked a reputable appraiser to join us for this epsiode.

This appraiser has been in the appraisal business since the late 1990's.   Not only did she help with forensic audits during the housing crash in 2008, she also periodically serves as a hearings officer for various counties making recommendations to the board of commissioners as to property values when home-owners are appealing their assessed values.   She believes that appraisers are there to best protect consumers, but that the industry has placed them far away from the very people they are supposed to help. 

Things she explains in this episode:

The difference of certification in an appraiser vs realtor
Why we can't see or talk to them
Who gets a cut of the appraisal fee we pay
How appraisers judge value
How often do appraisals match the contracted offer
How your renovations don't equal that same added value
How to dissect your appraisal
What to do if you think your appraisal is wrong
How the industry isn't putting consumers first

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